Dubai is officially recognized a decrease in rental prices for the first time in three years
The rent index which is officially determines the rental price in Dubai was revised for the majority of areas in the downside. The rental index shows prices for a year.
Reduction of prices in different areas changed from 2.3 to 14 percent. Compared with last updated in July 2015 rate rental prices dropped in areas such as International City, Jumeirah Village, Discovery Gardens, Greens, Dubai Marina, Jumeirah Beach Residence and the Palm Jumeirah.
The prices fell more in affordable areas from 14% in International City to 2.3% Jumeirah Beach Residence and 3.5 % on the island of The Palm Jumeirah. At the same time rental of property in the areas of Business Bay and Downtown has grown by an average of 2.7 and 2.4% respectively. Rents in some areas like Jumeirah Lake Towers (JLT) have not changed.
